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How to Setup Your Restaurant Accounts - YouTube
Channel: The Restaurant Boss
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one of the biggest mistakes I see when I
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take on a new client is that their books
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are not set up properly by books I mean
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their accounting I'm going to share with
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you the proper way to set up your books
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so you can get the numbers you need to
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explode the sales and profits in your
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restaurant hey everybody my name is Ryan
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Griffin I'm an author speaker chef
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restaurateur and I'm the founder of the
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restaurant boss calm as well as
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restaurant profit and performance calm
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and like I said earlier today I'm going
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to talk to you about some really really
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important stuff it may not be the
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sexiest and the most fun you know
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usually these videos are about
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increasing your sales and getting more
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profits and you know better management
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but today's a little drier it's about
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accounting and it's particularly about
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making sure that three very important
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accounts that you have set up and
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whatever software you use all match and
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that's going to be some kind of an
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income or sales account your expense or
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cost of goods sold account and your
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inventory you know I see a lot of times
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in restaurants where their income
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accounts or their sales accounts look
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something like restaurant patio catering
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banquets something like that but then
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their costs of goods sold or one of
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their expense accounts looks like food
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beverage beer wine inventory accounts if
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you even have them are usually all over
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the place so in the next couple of
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minutes we're going to jump inside my
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computer and I'm going to show you how
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you should set up your accounts if you
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don't do the accounting yourself forward
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this video to your bookkeeper make sure
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that they have your restaurant accounts
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set up this way it's the only way you're
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going to get accurate numbers let's jump
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inside my computer and I'll show you
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exactly what I mean all right so welcome
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inside of my computer so very quickly I
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just want to kind of show you how to
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build the accounts and whatever
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accounting software that you use I like
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to call these categories and then the
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one thing you want to make sure is
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whatever categories you make here again
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you want to make sure that your income
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or your sales accounts your purchases
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also known as your cost of goods sold
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accounts and your inventory accounts all
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match this same set up so everybody's
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going to start with a cost of goods sold
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if you only track one thing in your
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restaurant it's going to be cost of
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goods sold but a lot
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people like to track food and beverage
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so then your accounts are going to look
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something like this where you're going
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to have a master count as your cost of
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goods sold and underneath it you're
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going to have a food and beverage
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account but then some people like to
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track more stuff some people like to
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track a beer wine liquor I prefer to
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track beer draft and beer bottled as
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well as wine and liquor now this could
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nest under your beverage or what some
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people like to do is I'll just type in
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here some people like to track a
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non-alcoholic beverage account and then
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let me just move that right there so
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then you can see now you have your food
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your non-alcoholic beverage which would
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be like sodas milk juice coffee and then
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you have your draft beer your bottle
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beer your whining your liquor this is
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exactly how I like to set up accounts
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assuming you sell all this stuff and
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then like I said these would be your
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income your cost of goods sold your
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expense accounts as well as your
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inventory accounts now another thing
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that some people like to do some people
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sell merchandise in their restaurants so
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then that would go that would go out to
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this level here because it's under cost
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of goods sold but it's not under food or
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non-alcoholic beverage or beverage it's
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its own category that's another thing
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sometimes like if you sell cigarettes or
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paraphernalia like a hats and shirts and
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and you know beer mugs whatever if
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you're more of like a novelty type shop
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so that's kind of the first step again
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making sure that your sales accounts
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your income I'm sorry your income or
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sales accounts your expense or cost of
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goods sold accounts in your inventory
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accounts all match because imagine if
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you had these as your cost of goods sold
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as your purchases accounts but then you
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had restaurant and catering as your
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income account where would restaurant go
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how would you know what your food cost
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is let me explain that to you a little
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bit further you have to compare food
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purchases to food sales in order to get
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food costs but if you don't know what
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your food sales are if you only know
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what your toe
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restaurant sales are you have no number
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to compare that to so that means that
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when you enter in your sales for the day
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you have to break it down into these
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exact same categories which means that
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these exact same categories set up
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exactly the same way need to be in your
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POS system where your cash registers so
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you can extract that data in the exact
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same manner now the last part the most
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complicated part to this is when you
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order your food and stuff you have to
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breakdown your invoices you know draft
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your bottle beer wine liquor that's
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pretty easy to break down on an invoice
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things you have to be careful of though
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is like you might order cocktail napkins
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and straws from your from your bar
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vendor your bar supplier those probably
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don't go into your beer cost those would
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go into a direct operating expense
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totally different another conversation
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same thing like your broad line
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distributor no matter who it is who you
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order a majority of your product from
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you may order mostly food from them but
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it's not only food so you have to go
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through each invoice and make sure that
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when you enter your food purchases you
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may have $1,000 in voice from your broad
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line but maybe only $750 of that is food
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$200 of it might be chemicals and $50 of
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it might be paper anyways I hope this
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was helpful hey folks I hope that was
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helpful also I just gave you a sneak
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peek into something that I am
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extraordinarily proud of for the last
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couple months I've been developing some
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software and you are the first people
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who have ever seen that it's not even
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released yet it's not quite done well
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depending on when you're watching this
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video it might totally be done and I'll
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have an update below this video to let
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you know but if you're watching this
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video live like right when I sent it out
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to you the day I posted it it's not
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quite ready but it's close there'll be a
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button below if you're watching this
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video on YouTube there'll be a link come
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on back to my website and on my website
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there'll be a button that you can either
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learn more about the software if it's
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live and ready to go or I'm looking for
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some beta testers who want to really
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help me develop this into the perfect
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restaurant accounting software cost
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control counting software for your
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business and there'll be a button or a
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form that you could fill out to
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potentially be one of those beta testers
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for me but anyways if you
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of this video no matter where you are if
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you're on YouTube go ahead and subscribe
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and like it if you're on my website
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there's a little blue button below this
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video go ahead and smash that button
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there's also a comment section wherever
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you're watching this from please go
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ahead ask some questions leave some
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comments I reply to all of those within
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24 hours I promise my name is Ryan
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Griffin I'm with the restaurant boss as
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well as restaurant profit and
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performance comm I hope you have a
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wonderful day
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quickly the last thing is I'm able to
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produce these videos at no charge for
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you because you guys are great you like
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and you share in you comment so if you
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love getting these videos for free at no
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charge please make sure you like share
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comment let the world know how awesome
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these videos are all of your friends in
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the restaurant business
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I really appreciate it have a wonderful
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day
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